Epstein Secrets

pm *** ***AEO & ANN report pre-open / ARO & GES report after close*" ***Jefferies Global Energy Conference (Houston) begins"' ***13 CEOs meet with Obama today to discuss fiscal cliff"' • Green Mountain Q4 easily beat (profit surged 22%) on k-cup sales boosted FY2013 view (trading +20%) • Analog De

A SS, Numis downgrade 117 LN Berenberg downgrade VOD LN, Berenberg downgrade LG FP, CS downgrade ELI1V FH CS upgrade TDC DC, Exane upgrade DELB BB, BofAML upgrade PFG SJ, Akros cuts BMPS IM HSBC upgrade DEB LN, Citi initiate UU/ LN (b), JEFF upgrade GFS LN, Nomura upgrade MC FP UBS cuts RSL LN, Raja i

FT • Apple builds relations beyond Foxconn FT • Walmart opts out of Bangladesh factory deal FT • JPMorgan investors take heat off Dimon FT • Obama hits out at 'inexcusable IRS actions FT • Why the world faces climate chaos FT • Iceland's election is a signal to the rest of Europe FT • Why

BK GY, ULVR LN • JPM upgrade ACA FP, HYDR RM, IRAO RM, initiate DCC LN (n), Nordea upgrade PNDORA DC • RBC downgrade WOS LN, Citi downgrade EDP PL, BofAML upgrade RICHT HB, Libr u/g PURE LN EFTA00390483 • SocGen downgrade MERY FP, BP IM, upgrade SVT LN, MS upgrade BG/ LN, Numis downgrade CIU LN • Na

raising FT • ECB told to double its manpower FT • BP faces year-long wait for spill closure FT • German carmakers extend lead in Europe FT • Obama puts trade at heart of agenda FT • EU leaders seek seven-year budget deal FT • QE takes a toll on emerging economies FT • MPS bailout puts Drag

BBY (buy), GS upgrades UNH, Baird cuts YUM, Jeff cuts EQRIAVB Europe Key Research: • MS prefers Japanese equities to European, UBS upgrade BBVA SM, BofAML downgrade CNA LN, RI FP • JPM initiate MSTT RU (ow), CON GR (ow), upgrade ALR PW, Barc downgrade JMT PL, -ye Fl IM ••• Nomura upgrade DLG LN, downg

le WSJ Op-Ed • Yes, Mr. President, We Are a Nation of Takers WSJ Op-ed • Goldman overcomes its latest headache NYT • A signal to Wall Street in Obama's pick for regulators NYT • Osborne holds course as GDP data emerge Fr • Samsung warns on smartphones competition FT • Nokia makes progress Lex

grade KNIN VX, -ve NOK1V FH, upgrade TCG LN EFTA00397051 ••• JPM initiate VSVS (ow), upgrade IAG LN, GS downgrade NAUR NO, add FLUG AV to CL buy, BofAML adds BAY GY to Europe list ••• Commerzbank Steel Sector: (downgrade SZG GY & VOE AV), Barclays downgrades FUM1V FH, VER AV, SPM IM & upgrades TEC

ound the lending outlook given fairly healthy tourism activity. Management noted that while a de-emphasis on the Pacific Alliance, a priority for the Obama administration, was not a positive development, it remained fairly confident that strong military spending should continue to serve as a tailwind to

hat SEC Chairwoman White will leave at the end of President Obama’s term, this will likely lead to some regulatory

of Betterment), Randy Sternke (Vice President, Business Development at Alkanza), and Vaughn Bowman (Director, Managed Solutions Channel Management at BofAML). Each firm discussed the unique aspects of their individual business models and where they see the robo industry headed in the future. ¢ Broverman

8 occurring in the last two election cycles alone (see Chart 14). Hence, investors who believe this /s not your typical election (to quote President Obama at the latest Democratic National Convention) may still find that option markets are currently pricing too little of a move. However, as we have rec

lieve this /s not your typical election (to quote President Obama at the latest Democratic National Convention) may

o expect prices to rebound to $55/bbl by year end. In fact current levels of ~$40 are close to the summer floor ($39) they had previously suggested. BofAML strategists have turned bullish Oil & Gas equities given more CB (BoE) easing, attractive div yields and exposure to the EM recovery narrative. Moreo